`Iron Mike' knocked out of market

It may not rank among his Top 5 frustrations, but add real estate woes to the growing list of Mike Tyson's troubles.

Already facing criminal accusations, a tough fight to obtain a boxing license out of state, a divorce and lingering personal problems, Tyson recently threw in the towel on the sale of his 56,000-square-foot home on 17 acres in Farmington, Conn.

The home, first listed at $20 million by the heavyweight boxer in 1998, had been marked down twice, first to $12.9 million and then to $5 million.

Hartford, Conn.-area realty agents could not confirm why the home did not sell, but its inflated price may have been a factor. Tyson paid $2.7 million for the home in 1997, and sources say he spent about $1 million in renovations.

Agents suggested the limited market for homes of that price and a slumping economy may also have been factors. The home's eccentric touches -- it features a small health club and nightclub including a DJ station -- further limit its possible takers.

The home, which also sports 18 bedrooms and 38 baths, dwarfs Tyson's two Las Vegas properties, which are adjacent to one another on Tomiyasu Lane near Sunset Park.

Tyson bought the first in 1995 for $3.7 million. The 10,995-square-foot home has six bedrooms and 8 1/2 baths and has been remodeled extensively. The property was once part of a larger tract owned by Wayne Newton, who still owns adjacent property.

Tyson purchased the home next to it in October 2000 for $1.45 million. The 10,806-square-foot home has eight bedrooms and nine baths.

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